US MIDDAY: soyabeans plummet

30 May, 2008

July soyabean futures were down 47-1/4 cents at $13.25-1/2 per bushel, new-crop November down 34-1/4 at $13.23. Profit-taking and fund positioning at month's end. Spillover weakness from crude oil and gold, plus dollar strength.
Soya market underpinned by farm labour strife in Argentina, a major world soya exporter. July soyameal was down $11.90 at $331.80 per ton. July soyaoil futures were down 2.03 cent at 60.62 cents per lb.

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